Semi-related question - I'm moving my Axial install to another PC. Some instructions I found said to copy the files in %ProgramData%\zwave to the new PC. I noticed the .sdf file in that directory is rather large, as in about 900 MB currently. Any ideas? Is that normal?

That's probably a result of your logs. It ideally shouldn't be that big... if the new update didn't shrink it down, you may consider finding a SQL CE editor so you can manually delete logs and compact the db.